When Hewlett-Packard said it intended to spin off its personal computer operations, folks asked a lot of questions about what it means for the venerable and beleaguered Silicon Valley company.

But nobody has really asked what it means for HP Pavilion, the San Jose arena named after HP’s line of personal computers. The naming rights bring the city $1.62 million annually.

My sources say it’s all but inevitable that the building’s title will change: A new owner of the PC division is unlikely to keep the name.

So breathe deeply. While HP ponders its future, we should think about the next name for the arena. A few ideas:

The Netflix Show Palace: My personal favorite (catch the subtle play on Cow Palace). Netflix has the bucks and, through CEO Reed Hastings, the civic pride. The downside is that it’s a famously lean company that does its advertising through the Web. Plus, you’d probably have to repaint the arena red to match the envelopes. That could be a little garish on.

Circus Macsimus: It’s a great name, and my team of experts took it seriously in the recent naming contest for Apple’s new headquarters. With a mountain of cash greater than the gross national product of a number of countries, Apple could easily afford it. But Apple hardly has need of more visibility. Steve Jobs has said we’re in a post-PC world. While Macs still sell, they are not the future.

The Facebook Forum: Again, we’re talking deep pockets. To Facebook, a payment of a few million dollars a year would be mere tip money. And “Facebook Forum” has a pleasing alliteration. The downsides: Facebook doesn’t need to advertise; and while the company has wasted a few bucks on certain ventures, a branding effort doesn’t sound like Mark Zuckerberg.

Yelp Revue: OK, it’s a dark horse. But Yelp, while it has good word-of-mouth, could probably profit from a bigger branding strategy. And let’s face it: Yelping is what people do in an arena. A couple of times a year, maybe in tandem with LinkedIn, Yelp could sponsor a job-fair-cum-rock performance. You could find yourself dancing with your next handyman or boss.

Android Amphitheater: Potentially a step up from the Googleplex: After all, the Android operating system is a brand Google wants to promote. Naming could steal a march from Apple. The downside? The same as Facebook’s. The idea of Larry Page bestowing money on the arena doesn’t really compute.

Your Name Here Arena: With

modest investment by the city, this could be lucrative. Using electronic signage, you could change the name of the arena from day to day. On Tuesday, it might be the Race Street Fish Market Arena. On Thursday, it could be the Verizon Bowl. Businesses would avoid onerous payments, and the yearly take would be higher. Alas, Sharks announcers would probably rebel. They’ve got enough on their hands with all those Russian names.

The Shark Tank: This is what everyone calls it anyway. So why not make it official? It has special meaning after Compaq was bought by HP, and HP is now exploring the sale of its PC division. We’re not talking just about the team here. We’re talking about Silicon Valley business folks. It opens a new line of personalized logo wear (“Sharks: The Ellison Edition”).

The downside: The city probably couldn’t get much cash for this one. Good corporate sharks, sadly, tend to be tightfisted.

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